Noodle Partners saves universities $15,000 to $30,000 per student over OPM-managed programs of similar quality. For a single 45-credit program ramping up to 300 student starts per year, we can save your school more than $25 million over eight years.
Our basic approach is the fee-based model described below. But we also offer a temporary revenue share model for schools that would prefer to let us cover their upfront costs.
Designed to keep costs low and complement your internal resources, our fee-based model is transparent and simple.
We charge an administrative fee of about $10,000 per month for each program we help manage, plus about $50 per credit hour (this drops to under $10 per credit hour as we grow your online presence). If you choose, we will help support campus-based students in the corresponding program at minimal fee.
These fees will vary depending on which services and technology you choose to provide internally vs. externally. We will bill you quarterly for the services of our providers, and pass along 100% of these fees to them.
Noodle Partners’ contracts last from three to ten years, at your discretion. Our flexibility makes it possible for you to handle any function with the right combination of in-house and outside capacity as you grow, and (over time) to streamline operations by thinking of your online and on-campus students as part of a single, agile program.
On average, our fees will total 3-5% of tuition, and if you want a turnkey solution much like that of traditional OPMs, our providers’ services (marketing, recruitment, retention, instructional design, etc.) will average 25-30% of tuition. Please click here and we’ll set up a time when we can provide you with a more detailed projection of your costs.
Some schools cannot invest the millions of dollars needed to launch and grow a high-quality program as assumed in our fee-based model.
In this case, we’ll provide the funds to build and scale your programs. We do this by charging you a temporary revenue share of 60%. Once our initial investment has been recouped, you revert to our standard fee-based model. While overall costs will be slightly higher than if you used your own funds, this option is still much more cost-effective than a traditional OPM agreement.
Working with Noodle Partners will cost you considerably less than building your own programs or working with a traditional OPM.
Our investment in the NoodleBus helps us tie together various technologies and pull the data into our analytics tools efficiently.
The providers we bring together have invested over $1.5 billion in their technologies and services. They work to our specifications and give us exceptional pricing because we speak for ten of the best universities in the US.
As we add more schools to our network, our benchmark data gets more precise, and the synergies among the schools (for instance, working together to achieve better and quicker placement into clinical practices) becomes more evident.
Wall Street expects that each contract will bring an OPM $5 to $10 million a year in profit. Our target is an order of magnitude less; we will become a significant company only by being so good that we create a large network (which benefits each of the universities involved, as per above).
It invests our expertise and millions of dollars to help you create excellent online and hybrid programs that have a 30% cost advantage over competitive programs, to the benefit of your school and your students.